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TORONTO – Ontario is investing $100 million in the province’s tourism sector to help it recover from the impact of COVID-19. Tourism Minister Lisa MacLeod says the money will be distributed through the new Tourism Recovery Program. McLeod says the program will help for-profit tourism businesses in the attraction, accommodation, and leisure travel sectors. She […]
By Jason Contant | September 27, 2021
1 min read
Red cars are more expensive to insure, right? Wrong. Yet, according to a 2019 Ratehub survey, roughly 22% of respondents thought car colour had an impact on insurance rates. Several insurer and brokerage websites have blog posts titled What New Drivers Should Know About Purchasing a New Car and Auto Insurance (Allstate Canada) or Is […]
By Melissa Shin | September 24, 2021
2 min read
An increase in extreme weather events may threaten the availability of property insurance in Canada, warns DBRS Morningstar in a new report. The rating agency said that Canadian property and casualty (P&C) insurers have, so far, proven resilient in the face of rising weather-related losses. “However, as climate risk increases and severe weather events become […]
By Jason Contant | September 24, 2021
Insurance has become the top operating cost concern for small businesses, with seven in 10 reporting their premiums have increased since the beginning of the year, the Canadian Federation of Independent Business (CFIB) reported. The ongoing hard commercial insurance market, which began even before the COVID-19 pandemic, has resulted in increased rates and some insurers […]
4 min read
HALIFAX – An independent investigation has found the 2019 sinking of a small workboat near Halifax that claimed one life was caused by hull modifications that compromised the vessel’s stability. The Transportation Safety Board of Canada, in a report released today, says three people were aboard the 12-metre Captain Jim when it started taking on […]
London, United Kingdom-based managing general agent Landmark Underwriting has expanded into Canada with the opening of an office location in Toronto. Landmark (Canada) Ltd. o/a Landmark Underwriting recently obtained the Registered Insurance Brokers of Ontario (RIBO) licence and is now licensed to carry on business in Ontario, the MGA reported in a press release Sept. […]
By Jason Contant | September 23, 2021
KAMLOOPS, B.C. – Upgrades to communications systems in British Columbia’s wildfire zones are needed to save lives and properties, says a report released Wednesday. The Thompson Rivers University report, which examined B.C.’s communications practices during the devastating wildfire seasons of 2017 and 2018, calls for improvements to better inform people about risks before, during and […]
3 min read
Learning how to “speak IFRS 17” will be an essential skill for insurers for both ongoing effective governance and communicating business performance to stakeholders, a partner at PwC Canada said. The changes in the upcoming insurance accounting standard can significantly impact a number of key performance indicators (KPIs) that are widely used today for managing […]
By Jason Contant | September 22, 2021
Auto insurance is a necessary evil — drivers can’t operate a vehicle without it. And any number of factors can increase drivers’ premiums. Sometimes it’s simply the market. “The market goes up and down over time,” said Bruce Mackay, president of Mackay Insurance Brokers Inc. in Belleville, Ont. “Some things don’t change at all and […]
By Melissa Shin | September 22, 2021
This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. ___ Author: Yvonne Su, Assistant Professor in the Department of Equity Studies, York University, Canada Summer 2021 saw a succession of record breaking disasters. Wildfires […]
5 min read
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